Lighter [LIT] Bounces Back from $3.6 After Robinhood's Bitstamp Partnership Clarification

Lighter [LIT], an altcoin that plummeted to $3.6 after Robinhood's decision to partner with Bitstamp for U.S. perpetual Futures, has bounced back to reclaim its footing.

The price of LIT surged by 8.4% on the daily charts, reaching $4.05 as market tension cooled down following Vlad Tenev's clarification that Bitstamp meets regulatory requirements for the U.S. market.

Despite a 29% drop in spot trading volume, capital flows have recovered, with LIT seeing a significant increase in demand after its price dropped to $1.2 billion. On Binance, LIT's perps buy volume rose to 3.08 million, outpacing sell volume at 3.05 million.

The altcoin's stochastic (Stoch) formed a bullish crossover and rose to 23, indicating a trend reversal. To confirm this upside move, Lighter [LIT] now needs a daily close above the 20-day EMA.